Vietnamese EV Maker VinFast Aims To Take On Tesla, Mercedes And BMW With Its 10-Year Warranty Plan

Vietnamese EV maker VinFast provides a basic vehicle warranty that far exceeds most other EV makers, including Elon Musk’s Tesla Inc TSLA.

What Happened: The company provides up to 10 years or 125,000 miles bumper-to-bumper warranty on its new vehicles and unlimited kilometers, up to 10 years warranty on the battery. The vehicle will also be provided with 24/7 emergency roadside assistance during the warranty period.

EV giant Tesla, BMW BMWYY and Mercedes MBGAF offer a basic warranty of four years on their vehicles. Some, like Polestar Automotive, offer vehicle warranty for only the first three years of ownership.

“Compared to warranties currently on the market, VinFast offers the best policy with up to 10 years for our EVs, which leads the world’s automakers,” the company wrote in a post in December 2022.

In June, VinFast also launched a special aftersales policy under which customers will be eligible for service vouchers or cash if their EVs face an issue. Under the program, the customer will receive up to $300 in financial support depending on the severity of the issue they face.

Why It Matters: VinFast entered the U.S. market by delivering 45 VF 8 City Edition SUVs in March. It was also the EV maker's first sale outside Vietnam.

VinFast announced a SPAC merger with Black Spade Acquisition Co BSAQ in May. In a joint statement on Thursday, the company announced that the business combination is expected to close on Aug. 14 next week. VinFast’s ordinary shares and warrants are expected to begin trading on the Nasdaq on or around Aug. 15.

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VinFast. Photo by NamLong Nguyen on Shutterstock

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